Intuitive Machines is building on the successes of its inaugural moon mission.
Intuitive Machines highlighted that its cash balance of nearly $55 million on March 1 was "the largest balance relative to any quarter-end since the Company's IPO."
The lunar company revealed that its cash balance at the end of the year was just $4.5 million – partly the result of paying down $12 million in debt off its balance sheet. Following, the company saw about $50 million in "warrant exercises from an institutional investor," and raised $10 million through equity.
The company pointed to its recently improved backlog, as well as a number of upcoming potential NASA contracts, as further bolstering the momentum gained by the company's inaugural moon mission."We expect sales to expand significantly this year based on the current backlog," Vontur said.
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